"The Department of Energy will execute President Biden’s authorization of an immediate release of one million barrels per day for six months from the Strategic Petroleum Reserve, and we are coordinating with our international allies and partners to join us in releasing additional oil from strategic reserves.
This historic action is the latest move by the Biden-Harris administration to lower energy costs for working families, including yesterday’s DOE announcement of nearly $3.2 billion for home weatherization through the Bipartisan Infrastructure Law. The Department of Energy also supports President Biden’s decision to use the Defense Production Act to boost American production of critical minerals that are key to building up our clean energy supply chains.
Putin’s actions in Ukraine and the resulting disruptions to global energy markets have demonstrated the urgent need to accelerate our clean energy transition, which will make our country more energy independent and much less vulnerable to the whims of dictators.
The Department of Energy and this administration are aggressively investing in a wide range of clean energy technologies, which will grow our economy, create good-paying jobs, lower costs for American families, and combat the climate crisis."